CAclubindia News

Gujarat SGST Department Detects Rs 3.53 Crore Tax Evasion in Tobacco and Battery Sectors

23 November 2024 at 08:54

The Gujarat State Goods and Services Tax (SGST) Department has unearthed tax evasion amounting to Rs 3.53 crore from business-to-consumer (B2C) traders in the tobacco and battery sectors.

Posted in GST | 1860 Views

ED Arrests Bengaluru Man For Manipulating ITRs, Securing Fraudulent Tax Refunds

23 November 2024 at 08:51

In a significant crackdown, the Directorate of Enforcement (ED) arrested notorious conman Dilip B R on November 18, 2024, under the Prevention of Money Laundering Act (PMLA), 2002.

Posted in Income Tax | 3477 Views

Biometric Authentication to Launch at 46 GST Service Centres in MP to Prevent Fraud

23 November 2024 at 08:51

In a bid to curb fraudulent GST registrations, Madhya Pradesh is set to implement biometric-based Aadhaar authentication at 46 GST service centres across the state.

Posted in GST | 702 Views

18% or 5% GST: Houseboat Industry Battles Tax Woes

22 November 2024 at 16:42

Kerala's houseboat owners facing uncertainty as the GST office demands 18% GST from houseboat owners with a retrospective effect from 2017, causing uncertainty for owners in Alappuzha, Kochi, and Kumarakom.

Posted in GST | 642 Views

ICAI Joins Hands with CBSE to Revolutionize Skill-Based Accounting Education

22 November 2024 at 13:05

The ICAI through its Committee on Career Counselling signed a MoU with the Department of Skill Education, CBSE on 21st November 2024, at Bhubaneswar, Odisha, to promote commerce-based skill courses for students across the country.

Posted in Accounts | 2829 Views

CBDT Mandates e-Filing for Forms 42, 43 and 44

22 November 2024 at 10:48

The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), has announced the issuance of Notification No. 06/2024, dated 19th November 2024, specifying the forms to be submitted electronically under the Income Tax Rules, 1962.

Posted in Income Tax | 2355 Views

RBI Warns Banks: Stop Freezing Accounts Over KYC Issues

22 November 2024 at 10:47

Banks are freezing accounts for those receiving government funds i.e., Direct Benefit Transfer (DBT) funds such as subsidies, pensions, etc. due to lack of KYC...

Posted in Community & General | 738 Views

Kerala GST Department Revises Adjudication Process for Show Cause Notices

22 November 2024 at 09:14

The Kerala GST Department, through Circular No. 21/2024-Kerala SGST issued on November 18, 2024, has introduced a revised framework for adjudicating show cause notices (SCNs) under the Kerala SGST Act, 2017.

Posted in GST | 618 Views

FM Nirmala Sitharaman Calls for Affordable Bank Interest Rates to Boost Investments

22 November 2024 at 09:12

In a bid to address borrowing challenges and stimulate investment, Finance Minister Nirmala Sitharaman on Monday urged banks to make interest rates "far more affordable."

Posted in Corporate Law | 1698 Views

Income Tax Department Stresses TDS Adherence for Mizos Despite Tax Exemption

22 November 2024 at 09:12

In a recent meeting held in Aizawl, the Income Tax Department reaffirmed that Mizos, as indigenous people residing in designated tribal areas, are exempt from income tax under Central Government laws.

Posted in Income Tax | 1710 Views